作为"十四五"规划收官之年的压轴A级车展，素有"汽车行业风向标"之称的广州国际车展，已于11月21 日在中国进出口商品交易会展馆正式拉开帷幕。 第二十三届广州国际汽车展览会（以下简称2025广州车展）为期十天，以"新科技·新生活"为主题，集 中呈现汽车产业前沿技术与品牌转型成果，为行业趋势研判与未来发展方向提供前瞻性视角。 智驾成车企展示焦点 自主品牌"包馆"秀实力 随着自主品牌强势崛起，"包馆"参展已成为彰显品牌实力的最直接体现。 在2025广州车展上，比亚迪再度包揽专属展馆，旗下比亚迪（含王朝、海洋）、方程豹、腾势、仰望四 大品牌集中亮相。其中，比亚迪王朝旗舰车型——汉L、唐L携新车色及智能OTA（空中下载技术）正 式发布，补贴后售价19.48万元起；仰望U9 Xtreme迎来全球首发。 东道主广汽集团同样"包馆"参展，集中展示"番禺行动"实施一周年以来的阶段性成果。广汽自主品牌方 面，广汽昊铂A800在2025广州车展上正式揭开内饰的神秘面纱。作为广汽与华为深度合作的旗舰轿 车，昊铂A800全面搭载华为乾崑智驾与鸿蒙座舱双系统；广汽传祺携传祺向往S7、传祺向往M8乾崑、 传祺向往S9乾崑三款车型多个版本 ...

2025年，是广汽"番禺行动"开局之年。11月21日，2025年广州车展正式拉开帷幕。传祺向往全系车型亮相，展现东道主的格局与好客同时，将"稳"的基 础、"进"的有利、"好"的积累集中展示出来。 在1.0时代，传祺向往以"主流、大气、高品质"的传祺品牌基因初步构建起新能源产品矩阵。而此次2.0的发布，传祺向往则实现了从单一产品推广到整体 车系价值塑造的跨越与蝶变。 这一转变既是传祺对"番禺行动"的快速响应，也是对市场脉搏的精准把握。三年"番禺行动"犹如百米赛跑，第一年只是"起跑"，第二年是比拼实力与韧性 的"途中跑"。 更为关键的是，从2026年开始，新能源汽车市场将从政策驱动转向市场驱动，消费者从技术尝鲜走向实用主义，"里程焦虑"成为横亘在电动化普及道路上 的主要障碍。传祺向往2.0直击痛点，以"无里程焦虑"为核心诉求，聚焦"高品质、长续航、高保值"三大价值支柱，构建起差异化竞争优势。 这一战术调整，不仅是传祺顺应广汽自主战略的主动应变，更是其深耕新能源市场的关键落子。随着传祺向往定位的进一步聚焦，传祺新能源事业正式迈 入体系化作战的新阶段，将为广汽自主壮大注入更强劲动能。 在过去一年，作为广汽集团旗下核心 ...

Core Viewpoint - GAC Group showcases its "Panyu Action" reform achievements at the 23rd Guangzhou International Auto Show, emphasizing the creation of user value through "four engines" based on new technologies, products, services, and ecosystems, aiming to establish a new GAC that is technology-leading, quality-leading, and ecology-leading [1][4][6]. Group 1: Panyu Action and User-Centric Approach - GAC Group is committed to a user-centric approach, advancing the "Panyu Action" integrated reform, focusing on three major battles: user demand, product value, and service experience [4][6]. - The introduction of the Integrated Product Development (IPD) process has improved business efficiency by approximately 50%, reduced new car development cycles from 26 months to 18-21 months, and lowered R&D costs by over 10% [4][6]. Group 2: Four Engines for Value Creation - The "four engines" of GAC Group include new technologies, products, services, and ecosystems, aimed at enhancing user value [7][9]. - In new technology, GAC has achieved breakthroughs in user experience, including the "Star Source Range Extender" and the highest efficiency electric motor in the industry, exceeding 99% [9][11]. - GAC plans to launch nine new or updated models by 2026, driven by user demand and a comprehensive R&D system [11][20]. Group 3: Service and Ecosystem Innovations - GAC is expanding its service network with plans to add 600 brand experience stores, covering over 90% of county-level markets in China [11][13]. - The company has completed 45 over-the-air (OTA) updates this year, enhancing over 300 features across nearly 150,000 vehicles [11][15]. - GAC is building a comprehensive energy ecosystem, partnering with industry leaders like CATL to develop a battery swap network and a charging network covering 31 provinces [15][16]. Group 4: Product Highlights at the Auto Show - GAC Aion's i60 and UT super models were highlighted, showcasing advanced technologies and competitive pricing, with the UT super starting at 49,900 yuan [26][30]. - The GAC Trumpchi brand introduced several models, including the Trumpchi M8 and S9, aimed at providing high-quality, long-range, and high-value experiences [20][31]. - GAC's collaboration with Huawei on the A800 model features innovative interior designs and advanced driving assistance systems, enhancing user experience [18][20]. Group 5: Future Directions - GAC Group is entering a deep transformation phase, focusing on user-centric strategies and the "four engines" to achieve its goal of reinventing itself during the 14th Five-Year Plan period [40].

来源：美通社 在新技术方面，广汽集团将在新能源动力、安全、智能底盘、智能AI等领域突破用户体验，实现用户 的美好生活。 在新产品方面，广汽集团将精准响应用户期待，构建了自主品牌大研发体系，满足用户从日常通勤到品 质出行的多样化诉求。 在新服务方面，广汽全力推动渠道变革，让服务触手可及；另一方面，持续推动OTA升级, 新增及优化 超300项功能和体验，让车辆"常用常新、持续升值"。 在新生态方面，广汽将在能源生态、充电网络、智能生态、商业模式创新上开放合作，共创用户最佳体 验。 本次车展，广汽旗下各大品牌带来了多款最新智能科技车型及移动出行解决方案。 自主品牌方面，与华为合作的旗舰轿车广汽昊铂A800正式展示。广汽传祺携传祺向往S7、传祺向往M8 乾崑、传祺向往S9乾崑三款车型多个版本，广汽埃安携埃安UT super和埃安i60亮相。 广州 2025年11月21日 /美通社/ -- 11月21日，第二十三届广州国际汽车展览会在广交会展馆正式开幕。 本届车展上，广汽集团全面展示了"番禺行动"一周年的改革成果。 广汽集团坚持以用户为中心，围绕"用户需求战、产品价值战、服务体验战"，持续强化"更懂用户、反 应更快、技 ...

在新技术方面，有"星源增程"、夸克电驱电机、弹匣电池等，全固态电池中试线正式投产。在安全领 域，广汽发布了"星灵安全守护体系"。在智能底盘领域有鹰爪系统2.0。在智能AI领域，升级了"星灵智 行"。 11月21日，广汽集团（601238）在2025广州车展上全面展示了"番禺行动"一周年的改革成果，并正式发 布为用户创造价值的"四大引擎"，依托"新技术、新产品、新服务、新生态"，再造一个"科技领先、品 质领先、生态领先"的新广汽。 广汽集团董事长冯兴亚表示："一年前的今天，我们就是在这里，吹响了'番禺行动'的号角。一年来广 汽的管理变革和科技创新，可以说已经找准了路子，见到了果子。首先，我们重构了'造好车'的流程， 以便让我们的产品更加精准地响应用户的需求、引领市场的期待。同时，我们升级了'卖好车'的体系， 核心是要持续提升用户体验。更重要的是，我们激活了'造车的人'，为持续提供优秀的产品和服务积蓄 核心动能。" 面对汽车行业的深度变革与激烈内卷，广汽集团坚持以用户为中心，围绕"用户需求战、产品价值战、 服务体验战"三大战役全面发力，通过全面导入IPD(集成产品开发)流程，将用户需求深度融入产品定 义、研发到上 ...

Core Insights - GAC Group reported strong sales performance in October 2025, with over 170,000 vehicles sold, including 15,400 exports, marking a 69.2% year-on-year increase [2] - The company’s subsidiaries, including GAC Trumpchi, GAC Aion, GAC Toyota, and GAC Honda, showed robust growth, with GAC Trumpchi and GAC Toyota achieving year-on-year sales growth of 2.6% and 0.7%, respectively [2] - GAC Aion launched its first extended-range model, Aion i60, and introduced the Haobo GT Lite version, expanding its presence in the mainstream extended-range and high-end electric vehicle markets [2] GAC Group's Performance - GAC Trumpchi maintained its leading position in the SUV and MPV markets, with the sales of the Trumpchi V7 reaching 3,139 units, a 96% increase month-on-month, and the GS8 achieving 4,042 units, an 18.6% year-on-year increase [2] - GAC Toyota's smart electric SUV, the Platinum Smart 3X, surpassed 10,000 units in monthly sales for the first time, with total sales exceeding 58,000 units since launch [3] - GAC Honda's sales of the multi-energy HAOYING series reached 14,300 units in October, reflecting a 10.6% month-on-month growth [3] Overseas Expansion - GAC Group is deepening its "electrification leadership and localized development" strategy, achieving significant results in Southeast Asia [4] - The company launched its second locally assembled model, Yingku, in Malaysia and introduced three models in the Philippines, establishing over 30 sales and service networks by the end of October [4] - GAC Group is set to launch the Aion UT Super, a collaborative project with JD.com and CATL, on November 9, which aims to meet over 90% of daily commuting needs while integrating personalized customization [4]

Core Insights - GAC Group reported strong sales performance in October 2023, with over 170,000 vehicles sold and a 69.2% year-on-year increase in exports [1] - The company is focusing on both domestic and international markets, with significant growth in Southeast Asia and the introduction of new electric vehicle models [2] Group 1: Sales Performance - In October, GAC Group's total vehicle sales exceeded 170,000 units, with exports reaching 15,400 units, marking a 69.2% increase year-on-year [1] - For the first ten months of 2023, GAC's self-owned brand exports grew by 36% [1] - GAC's subsidiaries, including GAC Trumpchi and GAC Toyota, reported positive year-on-year growth in sales, with GAC Trumpchi's SUV model sales increasing by 96% month-on-month [1] Group 2: New Model Launches - GAC Aion's first extended-range model, Aion i60, has officially started pre-sales, while the GAC Haobo GT Lite version was launched on October 30 [1] - GAC Toyota's smart pure electric SUV, the Platinum 3X, achieved monthly sales of over 10,000 units for the first time, totaling over 58,000 units sold since its launch [1] Group 3: International Expansion - GAC Group is deepening its "electrification leadership and localization" strategy in Southeast Asia, with significant breakthroughs in October [2] - The company has established over 30 sales and service networks in the Philippines, offering a range of vehicles including sedans, SUVs, and MPVs [2] Group 4: Strategic Collaborations - GAC Group, in collaboration with JD.com and CATL, is set to launch the "National Good Car" Aion UT super on November 9, targeting a broad user base with high-quality electric vehicles [2] - The new model aims to meet over 90% of daily commuting needs and introduces a personalized customization model through JD.com [2]

Group 1 - GAC Group reported over 170,000 vehicle sales in October, with exports reaching 15,460 units, a year-on-year increase of 69.2% [1] - For the first ten months of the year, GAC's self-owned brand exports grew by 36% [1] - GAC's four major automotive brands showed stable performance in October, with GAC Trumpchi and GAC Toyota recording year-on-year growth of 2.6% and 0.7% respectively [1] Group 2 - GAC Trumpchi's SUV and MPV segments continued to grow, with the Trumpchi Ascension S7 selling 3,139 units in October, a month-on-month increase of 96% [1] - GAC Aion's first extended-range model, Aion i60, has officially started pre-sales, and the GAC Haobo GT Lite version was launched on October 30 [1] - GAC Toyota's smart pure electric SUV, the Platinum Smart 3X, achieved monthly sales of 11,472 units, marking a significant milestone [1] Group 3 - GAC Group is deepening its "electrification leadership and localization" strategy in Southeast Asia, with multiple breakthroughs in October [2] - GAC Aion V, Haobo HT, and Aion UT were officially launched in the Philippines, with over 30 sales and service networks established by the end of October [2] - The "National Good Car" Aion UT super, co-launched by GAC Group, JD.com, and CATL, will officially launch on November 9, targeting high-quality electric vehicle needs for most users [2]

Core Viewpoint - GAC Group has reported a significant decline in performance, with revenue and net profit falling sharply, indicating serious challenges in both its joint venture and independent brands [1][2][4] Financial Performance - For the first three quarters, GAC Group achieved revenue of 66.93 billion, a year-on-year decrease of 10.5%, and a net loss attributable to shareholders of -4.31 billion, marking a record loss [1][2] - The third quarter alone saw revenue of 24.32 billion, down 15% year-on-year, with a net loss of -1.77 billion [1][2] Profitability Issues - The company's gross margin fell to -2.17%, a drop of 8.3 percentage points year-on-year, with the third quarter gross margin at -2.9% [2] - GAC Group's R&D expense ratio remains low at 1.5%, significantly below comparable companies like BYD and SAIC, leading to concerns about the adequacy of financial disclosures regarding operational performance [2] Brand Performance - GAC's independent brand, GAC Trumpchi, has faced a sharp decline in sales and revenue, particularly with new models like the Trumpchi M8 and S7 underperforming expectations [1][3] - In the first half of the year, GAC Trumpchi reported revenue of 17.956 billion, a year-on-year decline of 29.47%, with total sales of 146,300 units, down 22.55% [3] Strategic Initiatives - GAC Group has initiated a three-year "Panyu Action" plan aimed at increasing the share of its independent brands to 60% of total sales by 2027, targeting a sales volume of 2 million units [3][4] - Despite the plan, the first year has seen a significant decline in sales for both Trumpchi and Aion brands, with a reported loss of 19,000 per vehicle in the third quarter [3][4]

Core Viewpoint - GAC Group is the only listed automotive company in A-shares to report a decline in revenue for the third quarter, with significant losses in net profit and a sharp drop in performance compared to market expectations [1][5]. Financial Performance - GAC Group reported a total revenue of 66.93 billion yuan for the first three quarters, a year-on-year decrease of 10.5% [5]. - The net profit attributable to shareholders was -4.31 billion yuan, with a non-recurring net profit of -4.78 billion yuan, marking a record loss [5]. - In Q3 alone, revenue was 24.32 billion yuan, down 15% year-on-year, with a net profit of -1.77 billion yuan and a non-recurring net profit of -1.83 billion yuan, indicating accelerated decline [5]. Profitability Metrics - The gross margin for GAC Group fell to -2.17% for the first three quarters, a decrease of 8.3 percentage points year-on-year, with Q3 gross margin at -2.9% [5][7]. - The company's R&D expense ratio remained low at 1.5%, significantly below comparable companies like BYD and SAIC [7]. Brand Performance - GAC's self-owned brand, GAC Trumpchi, faced a significant decline in revenue, with a 29.47% drop in the first half of the year, the largest decline among GAC's brands [12]. - New models such as the Trumpchi M8 and S7 did not meet sales expectations, contributing to the overall decline in performance [9][10]. Strategic Initiatives - GAC Group initiated a three-year "Panyu Action" plan aiming for self-owned brands to account for 60% of total sales by 2027, targeting a sales volume of 2 million units for self-owned brands [12]. - Despite efforts to reduce costs and improve efficiency, the actual results have not aligned with the optimistic projections made by the company's chairman [12].